{"id":1004360630,"date":"2019-10-16T07:05:45","date_gmt":"2019-10-16T15:05:45","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004360630"},"modified":"2021-05-10T02:06:32","modified_gmt":"2021-05-10T10:06:32","slug":"bpm-buys-2-california-office-assets-for-120m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/bpm-buys-2-california-office-assets-for-120m\/","title":{"rendered":"BPM Buys 2 California Office Assets for $120M"},"content":{"rendered":"
\"\"<\/a>

1 Enterprise. Image courtesy of NKF<\/em><\/p><\/div>\n

AEW Capital Management has sold a 109,948-square-foot office property in Aliso Viejo, Calif., for $59 million in a 1031 exchange to BDC\u2014a division of BPM Real Estate Group. The new owner received this summer a $460 million construction loan<\/a> for Block 216, a 1.1 million-square-foot mixed-use development in downtown Portland.<\/p>\n

Located at 1 Enterprise Aliso Viejo, the four-story building is adjacent to the 73 toll road and within a master-planned city located in south Orange County. Completed in 1999 on a 7.3-acre site, the recently renovated asset includes amenities such as a first-floor lobby, corporate boardroom, executive kitchen, cafeteria, as well as a gym with locker rooms and showers. At the time of sale, the property was fully leased to Microsemi Corp. and Ambry Genetics.    <\/p>\n

Executive Managing Directors Paul Jones and Brunson Howard, Co-Head of U.S. Capital Markets Kevin Shannon, Managing Director Blake Bokosky and Senior Associate Brandon White of NKF represented the seller in the transaction. Additionally, Vice Chairman Nick Kucha worked on behalf of the buyer.  <\/p>\n

According to Jones, the property is within one of the best suburban office submarkets in south Orange County. The area has maintained positive net absorption and consecutive quarters of positive rent growth for several years.<\/p>\n

California Expansion<\/h2>\n
\"\"<\/a>

2300 Orchard Parkway<\/p><\/div>\n

BPM Real Estate Group recently also acquired a 117,739-square-foot property in San Jose, Calif., Yardi Matrix data shows. Han’s Laser sold the asset for $61 million. Additionally, Citibank originated a $78 million portfolio acquisition loan for the two properties, set to mature in 2029.<\/p>\n

Located at 2300 Orchard Parkway, the 117,739-square-foot building is less than 3 miles from the Norman Y. Mineta San Jose International Airport and roughly 5 miles from downtown San Jose. The two-story building was developed in 1997 on a 5.9-acre site and received cosmetic renovations in 2016, according to Yardi Matrix data. The asset was fully leased to Cavium at the time of sale.<\/p>\n","protected":false},"excerpt":{"rendered":"

In two separate transactions, the company acquired a 117,739-square-foot asset in San Jose and a 109,948-square-foot building in Aliso Viejo. <\/p>\n","protected":false},"author":748,"featured_media":1004360639,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21825,21742,21747,34267,36079,15],"tags":[33536,33758,43232,33457,36007,33531],"class_list":["post-1004360630","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-finance","category-latest","category-office","category-orange-county","category-san-jose","category-west","tag-1031-exchange","tag-aew-capital-management","tag-bpm-real-estate-group","tag-citibank","tag-newmark-knight-frank","tag-paul-jones"],"acf":[],"yoast_head":"\nBPM Buys 2 California Office Assets for $120M - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/bpm-buys-2-california-office-assets-for-120m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"BPM Buys 2 California Office Assets for $120M\" \/>\n<meta property=\"og:description\" content=\"In two separate transactions, the company acquired a 117,739-square-foot asset in San Jose and a 109,948-square-foot building in Aliso Viejo.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/bpm-buys-2-california-office-assets-for-120m\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2019-10-16T15:05:45+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-05-10T10:06:32+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/10\/One-Enterprise-e1571224401627.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"890\" \/>\n\t<meta property=\"og:image:height\" content=\"667\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Lucia Morosanu\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/bpm-buys-2-california-office-assets-for-120m\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/bpm-buys-2-california-office-assets-for-120m\\\/\"},\"author\":{\"name\":\"Lucia Morosanu\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/1077c2cf363c47bc75d1ab4c42b53bb5\"},\"headline\":\"BPM Buys 2 California Office Assets for $120M\",\"datePublished\":\"2019-10-16T15:05:45+00:00\",\"dateModified\":\"2021-05-10T10:06:32+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/bpm-buys-2-california-office-assets-for-120m\\\/\"},\"wordCount\":332,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/bpm-buys-2-california-office-assets-for-120m\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2019\\\/10\\\/One-Enterprise-e1571224401627.jpg\",\"keywords\":[\"1031 Exchange\",\"AEW Capital Management\",\"BPM Real Estate Group\",\"Citibank\",\"Newmark Knight Frank\",\"Paul Jones\"],\"articleSection\":[\"Deals\",\"Finance\",\"News\",\"Office\",\"Orange County\",\"San Jose\",\"West\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/bpm-buys-2-california-office-assets-for-120m\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/bpm-buys-2-california-office-assets-for-120m\\\/\",\"name\":\"BPM Buys 2 California Office Assets for $120M - 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